Fuel prices to rise due to US jobs data, OPEC cutsBy Chen Cheng-hui / Staff reporterGasoline prices in the nation are to rise NT$0.2 per liter this week, while the cost of diesel fuel is to increase by NT$0.3 per liter, CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) announced separately yesterday. The rises in fuel prices following drops of NT$1.0 per liter for gasoline and NT$0.2 per liter for diesel comes after international crude oil prices rose last week on the back of better-than-expected US employment figures for last month and an expanded output cut by OPEC+ this month, CPC said. CPC said that based on its floating oil price formula, the cost of crude oil was 1.15 percent higher last week than a week earlier. Effective today, gasoline prices at CPC and Formosa stations are to rise to NT$28.8, NT$30.3 and NT$32.3 per liter for 92, 95 and 98-octane unleaded gasoline respectively, the companies said. The price of premium diesel is to increase to NT$27.6 per liter at CPC stations and to NT$27.4 at Formosa pumps, they said.

Source: Taipei Times May 14, 2023 20:05 UTC